Manila: The Department of Trade and Industry (DTI) on Friday clarified that no price freeze is currently in effect despite Malaca±ang's declaration of a national energy emergency.
According to Philippines News Agency, the DTI stated that the supply and prices of basic and prime commodities remain stable following the issuance of Executive Order (EO) No. 110, which aims to safeguard domestic oil supply amid the Middle East conflict. EO 110 'is a strategic measure specifically designed to address potential disruptions in the global oil supply chain,' the DTI explained.
The order also activated the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) Program, which provides targeted subsidies for the transport and agriculture sectors. 'By stabilizing the cost of moving goods, the government is proactively preventing the very inflationary pressures that would otherwise necessitate a price freeze,' the DTI stated.
The agency further noted its engagement with the private sector, having held meetings with 21 major manufacturers of essential goods such as canned sardines, bread, bottled water, instant noodles, and coffee. These manufacturers have 'formally pledged to maintain their current prices for the next 30 to 60 days.' 'This industry-wide cooperation ensures that prices remain fair without the need for mandatory government intervention,' the DTI commented. The 30-day commitment extends until April 16, while the 60-day period concludes on May 16.
Citing its price and supply monitoring, the DTI asserted that 'inventory levels for basic necessities remain sufficient.' 'There is no shortage of supply that would justify artificial price spikes,' it added. This comes in response to announcements by grocery and retail groups planning price adjustments starting April 1, 2026, due to the ongoing conflict in the Middle East.
The DTI also emphasized that although a formal 'freeze' is not in place, its consumer protection teams are on heightened alert. 'We continue to check compliance with the Suggested Retail Price (SRP) bulletin and monitor BNPCs (Basic Necessities and Prime Commodities) without SRP. Any retailer found engaging in profiteering (raising prices by more than 10 percent without justification) or hoarding will face the full force of the law, including administrative fines and potential imprisonment,' it warned.
